Brixmor Property Group Inc. (NYSE:BRX) Announces Dividend Increase – $0.29 Per Share

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, February 10th, Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be paid a dividend of 0.2875 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.15 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a 0.2% increase from Brixmor Property Group’s previous quarterly dividend of $0.29.

Brixmor Property Group has increased its dividend by an average of 9.9% per year over the last three years. Brixmor Property Group has a payout ratio of 113.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brixmor Property Group to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 49.4%.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock opened at $26.09 on Monday. Brixmor Property Group has a 1-year low of $20.80 and a 1-year high of $30.67. The firm has a fifty day simple moving average of $26.62 and a 200-day simple moving average of $27.55. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.66 and a beta of 1.59.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. On average, sell-side analysts expect that Brixmor Property Group will post 2.22 earnings per share for the current year.

Analysts Set New Price Targets

BRX has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on shares of Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Scotiabank decreased their target price on Brixmor Property Group from $32.00 to $30.00 and set a “sector outperform” rating on the stock in a research report on Friday, February 28th. Evercore ISI raised Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Tuesday, February 11th. Finally, Mizuho cut their target price on Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.48.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.